Sep 28, 2012 4:00am PDT
continue in greece and spain as those governments plan severe spending cuts on wages and pensions. leaders in spain expect a soft recession and aim for a 4.5 gdp, with an emphasis on cuts versus tax hikes. in greece, government officials approved an austerity package with spending cuts and fresh tax revenues needed to secure eu-imf loans. the government found nearly 400,000 jobs that went un- reported. each year, the labor department revises employment data. a preliminary revision shows 386,000 more jobs were created in the year ending in march than were reported, which means at least an extra 30,000 jobs were added each month, translating into 133.2 million people working versus 132.8. the .03% job gain is within the standard range of revisions. labor relations observers say the u.s. is seeing a rise in labor disputes leading to public protests and walkouts within the last year-and-a-half. in our cover story, why is labor using these tools, and will it continue? from public employees in wisconsin and chicago to the private sector - at american airlines, caterpiller and nfl referees - labo
Sep 26, 2012 4:00am PDT
of the government attempting to resolve its massive debt crisis. "international creditors are negotiating with the government about the next austerity measures. at this time, it looks as though the coutnry is going to have to make some really big cuts, and of course the people on the streets are not happy about that. the government workers are not happy because they are likely to be the focus of the cuts, and that is starting to manifest itself in civil unrest - and i think there's a good chance these strikes are just the beginning." that was jack ewing of the international hearld tribune. the greek government is planning $15 billion more in austerity measures to pay for money owed to private contractors and get access to loans from the european union and imf. meanwhile, protests are also flaring up in spain over another round of austerity measures. police baracaded madrid's parliament yesterday, in order to block thousands of protestors who sought to surround the building. the demonstration turned violent, as police in riot gear clashed with the thousands who showed up to protest. the c
Sep 27, 2012 4:00am PDT
. thank you. > > you too. violent anti-government demonstrations in both greece and spain caused a shake-up in the markets yesterday. stocks slid after violent footage between police and protestors put the euro crisis front and center for investors. however, michael iannaccone of mdi investments tells first business that the ripple effect on the market is likely temporary. "it's a continuing problem. until they come to a solution that seems viable, then that would be a positive to the market. so it is just a weight on the market, but the weight hasn't increased, so it's not going to pull the market down." spain releases its 2013 budget today. it's expected that the budget will include more government austerity measures. toyota is pushing back sales targets because of the eurozone debt crisis. the japanse automaker is lowering its car sales goal of 1 million down to 822,000 for the year in europe. however, toyota st paris motorss just getting under way. overall car sales in europe are expected to drop 5% this year. the nation's most-watched sport is turning into the most- watched debate.
Oct 2, 2012 4:00am PDT
. workers are protesting the government's austerity measures. government officials submitted a draft of the 2013 budget yesterday that calls for a new wave of deep cuts which will save $10 billion next year. workers will protest proposed cuts to salaries, pensions and other benefits. last week, 50,000 people in athens demonstrated against austerity. wages in china are going up - by some estimates, about 17% a year. it is providing china's growing middle class with more money to buy goods, though inflation is not helping. but it may also drive up the cost of making some of those products there, as well. in our cover story, who gains as china's employee base moves up? despite china's present economic slowdown, the story of its workforce recently has been of migration from farm to factory. 25 million made the move in 1990. last year, that figure grew to 158 million. it has increased china's productivity and competitiveness. but lately, that workforce is demanding more. "they increasingly learn that there's a big gap in what they earn and some other people." the wage gap in narrowing. tw
Oct 1, 2012 4:00am PDT
figure out how to do that - and there's lots of ways of doing it: you can have the government spend more money, you can give money back from the government and have the small businesses spend it in tax relief. either side will work. the problem is being sort of half-pregnant and trying to do both. > > michael alter from surepayroll. thanks so much. > > thanks for having me. still ahead, some shiny opportunities for gold and silver are catching one trader's eye. he'll tell us how to play them, next. traders are mining for trading opportunities in silver and gold. bill baruch of iitrader.com just happens to be one of those traders. good morning to you bill. > > good morning. > > what do you see in the gold or silver market that looks attractive to you right now? > > what i do like is the silver/gold ratio at the moment: dividing the price of silver into gold. it's achieved two separate levels in the past three years. heading into 2009, when gold was hovering right below $1,000, the market had a ratio just above 80. and then when silver made the run to $50 last year, last spring, the ratio
Sep 25, 2012 4:00am PDT
this is a problem for the chinese government to fix." a foxconn spokesoman declined to say whether apple's new iphone 5 is manufactuered at the plant where the fighting happened. you think the chinese will munch on american snacks and cereals? kellogg is sure hoping so. the company that makes frosted flakes, pop tarts, and rice krispies formed a joint venture to sell its wares through palm- oil manufacturer wilmar international. milk is becoming a staple in china. kellogg's hopes the chinese will see how well milk goes with cereal. general mills already has a deal to sell its cereal there. within 5 years, china is expected to become the world's largest food and beverage market. analsts fear an economic slowdown in china could cause nike to run into trouble. according to marketwatch, analysts say china represents 30% of nike's operating profit. in june, the athletic gear company shocked wall street with lower-than-predicted profits due to a decline in demand in china. nike reports earnings thursday. toyota, the pioneer in hybrid electric technology, is scaling back plans for all electric cars.